Ohio Revised Code
Chapter 1322 | Ohio Residential Mortgage Lending Act (Rmla)
Section 1322.07 | Requirement to Obtain Certificate of Registration or License.

Effective: September 1, 2021
Latest Legislation: House Bill 133 - 134th General Assembly
(A)(1) No person, on the person's own behalf or on behalf of any other person, shall engage in the transaction of business as a mortgage lender, mortgage servicer, or mortgage broker in this state without first having obtained a certificate of registration from the superintendent of financial institutions for the principal office and every branch office to be maintained by the person for the transaction of business as a mortgage lender, mortgage servicer, or mortgage broker in this state.
(2) A registrant shall maintain an office location for the transaction of business as a mortgage lender, mortgage servicer, or mortgage broker in any state of the United States. Registrants are not required to maintain a physical location in this state.
(B)(1) No individual shall act as a mortgage loan originator without first having obtained a license from the superintendent. A mortgage loan originator shall be employed by or associated with a registrant or entity holding a valid letter of exemption under this chapter, but shall not be employed by or associated with more than one registrant or entity holding a valid letter of exemption under this chapter at any one time.
(2) An individual acting under the individual's authority as a registered mortgage loan originator shall not be required to be licensed under division (B)(1) of this section.
Last updated June 22, 2021 at 1:10 PM

Structure Ohio Revised Code

Ohio Revised Code

Title 13 | Commercial Transactions

Chapter 1322 | Ohio Residential Mortgage Lending Act (Rmla)

Section 1322.01 | Rmla Definitions.

Section 1322.02 | Rules Amending Definitions of Mortgage Broker, Lender, or Originator; Rules Amending Criteria for Letters of Exemption.

Section 1322.04 | Applicability of Rmla.

Section 1322.05 | Credit Union Service Organization or Depository Institution Application for Letter of Exemption; Fee.

Section 1322.07 | Requirement to Obtain Certificate of Registration or License.

Section 1322.09 | Application for Certificate of Registration; Fee.

Section 1322.10 | Conditions for Issuing Certificate of Registration; Renewal.

Section 1322.12 | Designation of Operations Manager; Eligibility.

Section 1322.15 | Obfuscation or Concealment of True Ownership or Control.

Section 1322.16 | Transfer of Ownership Interests; Notification.

Section 1322.17 | Persons Registered Solely to Sell Leads or to Match Buyers.

Section 1322.20 | Application for Mortgage Loan Originator License.

Section 1322.21 | Conditions for Issuing Mortgage Loan Originator License; Renewal.

Section 1322.27 | Examination for Mortgage Loan Originator License.

Section 1322.28 | Continuing Education for Mortgage Loan Originator.

Section 1322.29 | Supervision of Mortgage Loan Originator; Transfer of License.

Section 1322.30 | Interest.

Section 1322.32 | Corporate Surety Bond; Notice of Action or Judgment.

Section 1322.34 | Examination and Maintenance of Records; Reports to Nmls.

Section 1322.35 | Obstructing Examination or Investigation by Superintendent of Financial Institutions.

Section 1322.36 | Public Records and Privileged and Confidential Information; Reports by Superintendent to Nmls.

Section 1322.40 | Prohibited Acts.

Section 1322.41 | Prohibited Interest in Appraisal Company.

Section 1322.42 | Restrictions Regarding Referrals.

Section 1322.43 | Supervision of Mortgage Loan Originator and Associated Persons; Procedures to Avoid Violations; Remote Work.

Section 1322.45 | Additional Duties of Registrants and Licensees; Recovery of Damages by Buyer.

Section 1322.46 | Disclosures in Advertising.

Section 1322.50 | Disciplinary Actions.

Section 1322.51 | Effect of Child Support Default on Registration or License.

Section 1322.52 | Buyer Civil Action; State Civil Action; Criminal Prosecution.

Section 1322.55 | Adoption of Rules to Parallel Federal Safe Act.

Section 1322.56 | Adoption of Rules to Comply With Nmls Requirements.

Section 1322.57 | Administrative Rules.

Section 1322.99 | Penalty.